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Housing market strong but losing steam
Australian home values have risen 1.6 per cent over the past month, but growth is slowing as housing becomes less affordable. CoreLogic data shows the value of homes across the country rose 1.6 per cent in July. Over the past year, the national home value index has increased 16.1 per cent, representing the fastest annual growth since February 2004. While the market may be strong, CoreLogic’s research director Tim Lawless say it is also losing steam. “With dwelling values rising more in a month than incomes are rising in a year, housing is moving out of reach for many members of the community,” he said on ... (full story)